Ola introduced its own dockless bike-sharing service earlier this month.

“We are excited to announce that Mobycy is now live on Google Play Store. It presents users with a greener, healthier means of commute with complete last-mile connectivity, in the form of smart, dockless bikes,” Akash Gupta, Co-Founder, Mobycy, said in a statement.

The app will be live on Apple App Store in next few days, the company said.

Launching its operations with a fleet of 5,000 “Smart Bikes”, the company plans to increase the number to 50,000 in the next six months.

“Smart Bikes” are currently available across Delhi-NCR region, including Noida, Gurugram, Faridabad and Chandigarh.

Users can sign up on the Mobycy app with Aadhaar identification and pay a security deposit of Rs 999, which is refundable.

The security deposit for students is Rs 499.

The app allows users to discover a smart bike in their vicinity, unlock it via QR Code and commute shorter distances faster.

The user can pay Rs 10 for a single ride or buy the monthly subscription to avail two rides daily for an hour each.

Using the app, these bikes can be found around public places like metro stations, markets and popular places like North Campus, Cyber City etc.

The “Smart Bikes” will be available across several colleges and universities, such as Amity Noida and MDI Gurgaon.

The company has also partnered with Paytm to ensure easy digital payments via the app and will partner with more digital payment providers soon.